Reunert earnings leap on Nokia sale

Last November, Reunert said it would sell its 40% stake in the local unit of Nokia Siemens Networks, because it was a passive shareholder. Reunert earned R793.5 million from the sale.

Yesterday, the company said the sale would result in earnings per share being between 105% and 115% higher. Headline earnings per share will be between 15% and 21% higher; and normalised headline earnings per share between 6% and 12% higher.

A year ago, the company reported flat revenue, at R5.1 billion, while basic earrings per share were 223.1c and headline earnings were 223c.

Reunert's results should be released on 17 May.